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19 pages, 4016 KB  
Article
Climate Signals and Carry-Over Effects in Mediterranean Mountain Fir Forests: Early Insights from Autoregressive Tree-Ring Models
by Panagiotis P. Koulelis, Alexandra Solomou and Athanassios Bourletsikas
Atmosphere 2026, 17(1), 108; https://doi.org/10.3390/atmos17010108 - 21 Jan 2026
Abstract
Climate fluctuations are expected to drive a decline in the growth of many conifer and broadleaf species, especially in the Mediterranean region, where these species grow at or very near the southern limits of their distribution. Such trends have important implications not only [...] Read more.
Climate fluctuations are expected to drive a decline in the growth of many conifer and broadleaf species, especially in the Mediterranean region, where these species grow at or very near the southern limits of their distribution. Such trends have important implications not only for forest productivity but also for plant diversity, as shifts in species performance may alter competitive interactions and long-term community composition. Using tree-ring data sourced from two Abies cephalonica stands with different elevation in Mount Parnassus in Central Greece, we evaluate the growth responses of the species to climatic variability employing a dendroecological approach. We hypothesize that radial growth at higher elevations is more strongly influenced by climate variability than at lower elevations. Despite the moderate to relatively good common signal indicated by the expressed population signal (EPS: 0.645 for the high-altitude stand and 0.782 for the low-altitude stand), the chronologies for both sites preserve crucial stand-level growth patterns, providing an important basis for ecological insights. The calculation of the Average Tree-Ring Width Index (ARWI) for both sites revealed that fir in both altitudes exhibited a decline in growth rates from the late 1980s to the early 1990s, followed by a general recovery and increase throughout the late 1990s. They also both experienced a significant decline in growth between approximately 2018 and 2022. The best-fit model for annual ring-width variation at lower elevations was a simple autoregressive model of order one (AR1), where growth was driven exclusively by the previous year’s growth (p < 0.001). At the higher elevation, a more complex model emerged: while previous year’s growth remained significant (p < 0.001), other variables such as maximum growing season temperature (p = 0.041), annual temperature (inverse effect, p = 0.039), annual precipitation (p = 0.017), and evapotranspiration (p = 0.039) also had a statistically significant impact on tree growth. Our results emphasize the prominent role of carry-over effects in shaping their annual growth patterns. Full article
(This article belongs to the Section Biometeorology and Bioclimatology)
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27 pages, 1494 KB  
Review
A Survey on Missing Data Generation in Networks
by Qi Shao, Ruizhe Shi, Xiaoyu Zhang and Duxin Chen
Mathematics 2026, 14(2), 341; https://doi.org/10.3390/math14020341 - 20 Jan 2026
Abstract
The prevalence of massive, multi-scale, high-dimensional, and dynamic data sets resulting from advances in information and network communication technologies is frequently hampered by data incompleteness, a consequence of complex network structures and constrained sensor capabilities. The necessity of complete data for effective data [...] Read more.
The prevalence of massive, multi-scale, high-dimensional, and dynamic data sets resulting from advances in information and network communication technologies is frequently hampered by data incompleteness, a consequence of complex network structures and constrained sensor capabilities. The necessity of complete data for effective data analysis and mining mandates robust preprocessing techniques. This comprehensive survey systematically reviews missing value interpolation methodologies specifically tailored for time series flow network data, organizing them into four principal categories: classical statistical algorithms, matrix/tensor-based interpolation methods, nearest-neighbor-weighted methods, and deep learning generative models. We detail the evolution and technical underpinnings of diverse approaches, including mean imputation, the ARMA family, matrix factorization, KNN variants, and the latest deep generative paradigms such as GANs, VAEs, normalizing flows, autoregressive models, diffusion probabilistic models, causal generative models, and reinforcement learning generative models. By delineating the strengths and weaknesses across these categories, this survey establishes a structured foundation and offers a forward-looking perspective on state-of-the-art techniques for missing data generation and imputation in complex networks. Full article
(This article belongs to the Special Issue Advanced Machine Learning Research in Complex System)
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32 pages, 11897 KB  
Article
A Time Series Analysis of Monthly Fire Counts in Ontario, Canada, with Consideration of Climate Teleconnections
by Emmanuella Boateng and Kevin Granville
Fire 2026, 9(1), 44; https://doi.org/10.3390/fire9010044 - 19 Jan 2026
Viewed by 37
Abstract
Climate change can impact various facets of a region’s fire regime, such as the frequency and timing of fire ignitions. This study examines the temporal trends of monthly fire counts in the Northwest and Northeast Regions of Ontario, Canada, between 1960 and 2023. [...] Read more.
Climate change can impact various facets of a region’s fire regime, such as the frequency and timing of fire ignitions. This study examines the temporal trends of monthly fire counts in the Northwest and Northeast Regions of Ontario, Canada, between 1960 and 2023. Fires ignited by human activities or lightning are analyzed separately. The significance of historical trends is investigated using the Cochrane–Orcutt method, which identifies decreasing trends in the number of human-caused fires for several months, including May through July. A complementary trend analysis of total area burned is also conducted. The forecasting of future months’ fire counts is explored using a Negative Binomial Autoregressive (NB-AR) model suitable for count time series data with overdispersion. In the NB-AR model, the use of climate teleconnections at a range of temporal lags as predictors is investigated, and their predictive skill is quantified through cross-validation estimates of Mean Absolute Error on a testing dataset. Considered teleconnections include the El Niño-Southern Oscillation (ENSO), Pacific Decadal Oscillation (PDO), Arctic Oscillation (AO), North Atlantic Oscillation (NAO), and Atlantic Multidecadal Oscillation (AMO). The study finds the use of teleconnection predictors promising, with a notable benefit for forecasting human-caused fire counts but mixed results for forecasting lightning-caused fire counts. Full article
(This article belongs to the Special Issue Effects of Climate Change on Fire Danger)
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22 pages, 405 KB  
Article
A Cointegrated Ising Spin Model for Asynchronously Traded Futures Contracts: Spread Trading with Crude Oil Futures
by Kostas Giannopoulos
J. Risk Financial Manag. 2026, 19(1), 79; https://doi.org/10.3390/jrfm19010079 - 19 Jan 2026
Viewed by 93
Abstract
Pairs trading via futures calendar spreads offers a robust market-neutral approach to exploiting transient mispricings, yet real-time implementation is hindered by asynchronous trading. This paper introduces a Cointegrated Ising Spin Model, CISM, for real-time signal generation in high-frequency spread trading. The model [...] Read more.
Pairs trading via futures calendar spreads offers a robust market-neutral approach to exploiting transient mispricings, yet real-time implementation is hindered by asynchronous trading. This paper introduces a Cointegrated Ising Spin Model, CISM, for real-time signal generation in high-frequency spread trading. The model links the macro-level equilibrium of cointegration with micro-level agent interactions, representing prices as magnetizations in an agent-based system. A novel Δ-weighted arbitrage force dynamically adjusts agents’ corrective behavior to account for information staleness. Calibrated on tick-by-tick Brent crude oil futures, the model produces a time-varying probability of spread reversion, enabling probabilistic trading decisions. Backtesting demonstrates a 74.65% success rate, confirming the CISM’s ability to generate stable, data-driven arbitrage signals in asynchronous environments. The model bridges macro-level cointegration with micro-level agent interactions, representing prices as magnetizations within an agent-based Ising system. A novel feature is a Δ-weighted arbitrage force, where the corrective pressure applied by agents in response to the standard Error Correction Term is dynamically amplified based on information staleness. The model is calibrated on historical tick data and designed to operate in real time, continuously updating its probability-based trading signals as new quotes arrive. The model is framed within the context of Discrete Choice Theory, treating agent transitions as utility-maximizing decisions within a Vector Logistic Autoregressive (VLAR) framework. Full article
(This article belongs to the Special Issue Financial Innovations and Derivatives)
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20 pages, 3022 KB  
Article
A Framework for Assessing Peak Demand Reduction from Air Conditioning Efficiency Programs in Developing Economies: A Case Study of Paraguay
by Derlis Salomón, Victorio Oxilia, Richard Ríos and Eduardo Ortigoza
Energies 2026, 19(2), 482; https://doi.org/10.3390/en19020482 - 19 Jan 2026
Viewed by 87
Abstract
This study examines the rapid growth of energy demand in Paraguay, primarily driven by intensive air conditioning use and reduced hydroelectric output due to adverse Paraná River conditions. Employing a Vector Autoregressive (VAR) model, we quantify how temperature shocks significantly elevate peak electricity [...] Read more.
This study examines the rapid growth of energy demand in Paraguay, primarily driven by intensive air conditioning use and reduced hydroelectric output due to adverse Paraná River conditions. Employing a Vector Autoregressive (VAR) model, we quantify how temperature shocks significantly elevate peak electricity demand within the National Interconnected System. Our findings reveal that air conditioning accounts for 34–36% of the peak demand, pushing the hydroelectric system towards its operational limits. To address this challenge, we propose a technological transition strategy focused on energy efficiency improvements and labeling programs aimed at reducing peak demand, delaying system saturation, and achieving substantial power savings. These measures offer a practical approach to climate adaptation while supporting Paraguay’s international commitments and Sustainable Development Goals (SGDs) 7 (affordable and clean energy) and 13 (climate action). This work represents the first pioneering effort in Paraguay to quantify the influence of the SIN’s AC at the national level. This research provides policymakers with an evidence-based framework for energy planning, marking a pioneering effort in Paraguay to quantify cooling loads and set actionable efficiency targets. Full article
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23 pages, 5887 KB  
Article
Spatial–Temporal Coupling Characteristics and Interactive Effects of New-Type Urbanization and Cultivated Land Use Efficiency on Food Security
by Yihan Zhao, Yang Peng, Mengduo Li and Shuisheng Fan
Agriculture 2026, 16(2), 243; https://doi.org/10.3390/agriculture16020243 - 18 Jan 2026
Viewed by 182
Abstract
Against the backdrop of rapid modernization and tightening agricultural resource constraints, coordinating urbanization and grain production is a key challenge for China. Using panel data from 30 Chinese provinces from 2004 to 2023, this study applies the coupling coordination degree (CCD) model and [...] Read more.
Against the backdrop of rapid modernization and tightening agricultural resource constraints, coordinating urbanization and grain production is a key challenge for China. Using panel data from 30 Chinese provinces from 2004 to 2023, this study applies the coupling coordination degree (CCD) model and a panel vector autoregression model to examine the spatiotemporal coupling characteristics and interaction mechanisms among new-type urbanization (NTU), cultivated land use efficiency (CLUE), and food security (FS). The results show that these three systems have gradually evolved toward coordinated development, with major grain-producing regions consistently leading and entering a moderate coordination stage earlier than other regions. Spatially, CCD exhibits significant positive spatial autocorrelation, characterized by stable “High–High” agglomeration in Northeast China and “Low–Low” agglomeration in southern provinces. Dynamic analysis indicates that system fluctuations are mainly driven by internal inertia, while inter-system interactions are also significant; NTU promotes CLUE, and CLUE and FS exhibit bidirectional causality with complex feedback effects. This study argues for promoting urban–rural factor mobility, advancing green and technology-enabled land use, implementing region-specific development strategies, and establishing a “human–land–grain” early-warning mechanism to safeguard food security during urban expansion. Full article
(This article belongs to the Section Agricultural Economics, Policies and Rural Management)
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26 pages, 2118 KB  
Article
A Hybrid HAR-LSTM-GARCH Model for Forecasting Volatility in Energy Markets
by Wiem Ben Romdhane and Heni Boubaker
J. Risk Financial Manag. 2026, 19(1), 77; https://doi.org/10.3390/jrfm19010077 - 17 Jan 2026
Viewed by 245
Abstract
Accurate volatility forecasting in energy markets is paramount for risk management, derivative pricing, and strategic policy planning. Traditional econometric models like the Heterogeneous Auto-regressive (HAR) model effectively capture the long-memory and multi-component nature of volatility but often fail to account for non-linearities and [...] Read more.
Accurate volatility forecasting in energy markets is paramount for risk management, derivative pricing, and strategic policy planning. Traditional econometric models like the Heterogeneous Auto-regressive (HAR) model effectively capture the long-memory and multi-component nature of volatility but often fail to account for non-linearities and complex, unseen dependencies. Deep learning models, particularly Long Short-Term Memory (LSTM) networks, excel at capturing these non-linear patterns but can be data-hungry and prone to overfitting, especially in noisy financial datasets. This paper proposes a novel hybrid model, HAR-LSTM-GARCH, which synergistically combines the strengths of the HAR model, an LSTM network, and a GARCH model to forecast the realized volatility of crude oil futures. The HAR component captures the persistent, multi-scale volatility dynamics, the LSTM network learns the non-linear residual patterns, and the GARCH component models the time-varying volatility of the residuals themselves. Using high-frequency data on Brent Crude futures, we compute daily Realized Volatility (RV). Our empirical results demonstrate that the proposed HAR-LSTM-GARCH model significantly outperforms the benchmark HAR, GARCH(1,1), and standalone LSTM models in both statistical accuracy and economic significance, offering a robust framework for volatility forecasting in the complex energy sector. Full article
(This article belongs to the Special Issue Mathematical Modelling in Economics and Finance)
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20 pages, 529 KB  
Article
Fintech Firms’ Valuations: A Cross-Market Analysis in Asia
by Neha Parashar, Rahul Sharma, Pranav Saraswat, Apoorva Joshi and Sumit Banerjee
J. Risk Financial Manag. 2026, 19(1), 74; https://doi.org/10.3390/jrfm19010074 - 17 Jan 2026
Viewed by 81
Abstract
This study investigates the valuation dynamics of 30 publicly listed fintech firms across six Asian economies from January 2021 to December 2025. It examines how intrinsic firm-level scale (market capitalization) and extrinsic macroeconomic conditions (GDP growth) jointly influence fintech valuation ratios, as reflected [...] Read more.
This study investigates the valuation dynamics of 30 publicly listed fintech firms across six Asian economies from January 2021 to December 2025. It examines how intrinsic firm-level scale (market capitalization) and extrinsic macroeconomic conditions (GDP growth) jointly influence fintech valuation ratios, as reflected in price-to-earnings (P/E), price-to-book (P/B), and price-to-sales (P/S) measures. It also identifies significant structural heterogeneity and distributional asymmetries in valuation outcomes by implementing a multi-method empirical strategy that includes a Panel Autoregressive Distributed Lag (ARDL) framework, two-way fixed-effects models with interaction terms, and quantile regression. The findings reveal a robust, positive long-run relationship between market capitalization and valuation multiples across all ratios, confirming that firm-level scale as reflected in market capitalization is the primary driver of market value. Critically, the analysis identifies a dual-regime landscape in the Asian fintech sector: developed markets (South Korea, Japan, and Singapore) are fundamentally firm-scale driven, where intrinsic scale is the superior predictor of valuation. In contrast, developing markets (China, India, and Indonesia) are primarily macro-growth driven, exhibiting high sensitivity to GDP growth as a macroeconomic indicator of market expansion. The quantile regression results demonstrate a winner-takes-all effect, where the impact of scale on valuation is significantly more pronounced for highly valued firms in the 75th percentile. These results challenge the efficacy of universal valuation models and provide a context-dependent navigational framework for investors, analysts, and policymakers to distinguish between structural scale and cyclical growth in the rapidly evolving Asian fintech ecosystem. Full article
(This article belongs to the Special Issue The Role of Digitization in Corporate Finance)
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15 pages, 1269 KB  
Article
Schistosomiasis in Saudi Arabia (2002–2024): A National Analysis of Trends, Regional Heterogeneity, and Progress Toward Elimination
by Yasir Alruwaili
Trop. Med. Infect. Dis. 2026, 11(1), 25; https://doi.org/10.3390/tropicalmed11010025 - 16 Jan 2026
Viewed by 117
Abstract
Schistosomiasis remains a major neglected tropical disease globally and presents particular challenges for countries transitioning from control to elimination. Saudi Arabia represents a unique epidemiological setting, having shifted from historical endemic transmission to very low reported incidence, yet long-term national analyses remain limited. [...] Read more.
Schistosomiasis remains a major neglected tropical disease globally and presents particular challenges for countries transitioning from control to elimination. Saudi Arabia represents a unique epidemiological setting, having shifted from historical endemic transmission to very low reported incidence, yet long-term national analyses remain limited. A retrospective longitudinal analysis of national schistosomiasis surveillance data from 2002 to 2024 was conducted to evaluate temporal trends, clinical subtypes, regional distribution, and demographic characteristics. Joinpoint regression was used to identify significant changes in temporal trends, and autoregressive integrated moving average (ARIMA) models were applied to forecast national and regional trajectories. National incidence declined markedly from 5.5 per 100,000 in 2002 to 0.12 per 100,000 in 2024, with a notable change around 2010, followed by sustained low-level incidence. Intestinal schistosomiasis accounted for most cases, with increasing concentration among adult non-Saudi males and near-elimination among children. Regionally, cases were confined to a limited number of western and southwestern regions, particularly Ta’if, Al Baha, Jazan, and Madinah. Forecasting analyses indicated continued low-level detection without evidence of national resurgence. These findings demonstrate a transition to an elimination-maintenance phase and highlight the need for sustained surveillance in historically endemic regions and mobile populations. Full article
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13 pages, 2173 KB  
Article
Daily Streamflow Prediction Using Multi-State Transition SB-ARIMA-MS-GARCH Model
by Jin Zhao, Jianhui Shang, Qun Ye, Huimin Wang, Gengxi Zhang, Feng Yao and Weiwei Shou
Water 2026, 18(2), 241; https://doi.org/10.3390/w18020241 - 16 Jan 2026
Viewed by 139
Abstract
Under the combined influences of climate change and anthropogenic activities, the variability of basin streamflow has intensified, posing substantial challenges for accurate prediction. Although Generalized Autoregressive Conditional Heteroskedasticity (GARCH) models characterize volatility in time series, many previous studies have neglected changes in series [...] Read more.
Under the combined influences of climate change and anthropogenic activities, the variability of basin streamflow has intensified, posing substantial challenges for accurate prediction. Although Generalized Autoregressive Conditional Heteroskedasticity (GARCH) models characterize volatility in time series, many previous studies have neglected changes in series structure, leading to inaccurate identification of the form of volatility. Building on tests for structural breaks (SBs) in time series, this study first removes the series mean using an Autoregressive Integrated Moving Average (ARIMA) model and then incorporates Markov-switching (MS) to develop a multi-state MS-GARCH model. An asymmetric MS-GARCH (MS-gjrGARCH) variant is also incorporated to describe the volatility of streamflow series with SBs. Daily streamflow data from five hydrological stations in the middle reaches of the Yellow River are used to compare the predictive performance of SB-ARIMA-MS-GARCH, SB-ARIMA-MS-gjrGARCH, ARIMA-GARCH, and ARIMA-gjrGARCH models. The results show that daily streamflow exhibits SBs, with the number and timing of breakpoints varying among stations. Standard GARCH and gjrGARCH models have limited ability to capture runoff volatility clustering, whereas MS-GARCH and MS-gjrGARCH effectively characterize volatility features within individual states. The multi-state switching structure substantially improves daily streamflow prediction accuracy compared with single-state volatility models, increasing R2 by approximately 5.8% and NSE by approximately 36.3%.The proposed modeling framework offers a robust new tool for streamflow prediction in such changing environments, providing more reliable evidence for water resource management and flood risk mitigation in the Yellow River basin. Full article
(This article belongs to the Special Issue Advances in Research on Hydrology and Water Resources)
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26 pages, 2749 KB  
Article
Deep-Learning-Driven Adaptive Filtering for Non-Stationary Signals: Theory and Simulation
by Manuel J. Cabral S. Reis
Electronics 2026, 15(2), 381; https://doi.org/10.3390/electronics15020381 - 15 Jan 2026
Viewed by 157
Abstract
Adaptive filtering remains a cornerstone of modern signal processing but faces fundamental challenges when confronted with rapidly changing or nonlinear environments. This work investigates the integration of deep learning into adaptive-filter architectures to enhance tracking capability and robustness in non-stationary conditions. After reviewing [...] Read more.
Adaptive filtering remains a cornerstone of modern signal processing but faces fundamental challenges when confronted with rapidly changing or nonlinear environments. This work investigates the integration of deep learning into adaptive-filter architectures to enhance tracking capability and robustness in non-stationary conditions. After reviewing and analyzing classical algorithms—LMS, NLMS, RLS, and a variable step-size LMS (VSS-LMS)—their theoretical stability and mean-square error behavior are formalized under a slow-variation system model. Comprehensive simulations using drifting autoregressive (AR(2)) processes, piecewise-stationary FIR systems, and time-varying sinusoidal signals confirm the classical trade-off between performance and complexity: RLS achieves the lowest steady-state error, at a quadratic cost, whereas LMS remains computationally efficient with slower adaptation. A stabilized VSS-LMS algorithm is proposed to balance these extremes; the results show that it maintains numerical stability under abrupt parameter jumps while attaining steady-state MSEs that are comparable to RLS (approximately 3 × 10−2) and superior robustness to noise. These findings are validated by theoretical tracking-error bounds that are derived for bounded parameter drift. Building on this foundation, a deep-learning-driven adaptive filter is introduced, where the update rule is parameterized by a neural function, Uθ, that generalizes the classical gradient descent. This approach offers a pathway toward adaptive filters that are capable of self-tuning and context-aware learning, aligning with emerging trends in AI-augmented system architectures and next-generation computing. Future work will focus on online learning and FPGA/ASIC implementations for real-time deployment. Full article
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23 pages, 9799 KB  
Article
Inertia Estimation of Regional Power Systems Using Band-Pass Filtering of PMU Ambient Data
by Kyeong-Yeong Lee, Sung-Guk Yoon and Jin Kwon Hwang
Energies 2026, 19(2), 424; https://doi.org/10.3390/en19020424 - 15 Jan 2026
Viewed by 197
Abstract
This paper proposes a regional inertia estimation method in power systems using ambient data measured by phasor measurement units (PMUs). The proposed method employs band-pass filtering to suppress the low-frequency influence of mechanical power and to attenuate high-frequency noise and discrepancies between rotor [...] Read more.
This paper proposes a regional inertia estimation method in power systems using ambient data measured by phasor measurement units (PMUs). The proposed method employs band-pass filtering to suppress the low-frequency influence of mechanical power and to attenuate high-frequency noise and discrepancies between rotor speed and electrical frequency. By utilizing a simple first-order AutoRegressive Moving Average with eXogenous input (ARMAX) model, this process allows the inertia constant to be directly identified. This method requires no prior model order selection, rotor speed estimation, or computation of the rate of change of frequency (RoCoF). The proposed method was validated through simulation on three benchmark systems: the Kundur two-area system, the IEEE Australian simplified 14-generator system, and the IEEE 39-bus system. The method achieved area-level inertia estimates within approximately ±5% error across all test cases, exhibiting consistent performance despite variations in disturbance models and system configurations. The estimation also maintained stable performance with short data windows of a few minutes, demonstrating its suitability for near real-time monitoring applications. Full article
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21 pages, 1601 KB  
Article
Macroeconomic Drivers of Poultry Price Volatility in Nigeria: A Study of Inflation and Exchange Rate Dynamics
by Prosper E. Edoja, Rosemary N. Okoh, Emmanuella O. Udueni and Goodness C. Aye
Commodities 2026, 5(1), 3; https://doi.org/10.3390/commodities5010003 - 15 Jan 2026
Viewed by 109
Abstract
Poultry price instability remains a critical challenge for food security in Nigeria. This study examines the relationship between poultry price volatility (PPV), exchange rate (LEXR), and inflation (LCPI) from 1991 to 2024 using the Autoregressive Distributed Lag (ARDL) model. Descriptive results show that [...] Read more.
Poultry price instability remains a critical challenge for food security in Nigeria. This study examines the relationship between poultry price volatility (PPV), exchange rate (LEXR), and inflation (LCPI) from 1991 to 2024 using the Autoregressive Distributed Lag (ARDL) model. Descriptive results show that PPV had the highest variability (mean 0.65; standard deviation 1.07), while LEXR and LCPI were relatively more stable. Trend analysis indicates that poultry price volatility was high in the early 1990s but declined steadily after 2005, coinciding with persistent inflation and cycles of exchange rate depreciation and appreciation.Unit root and bounds tests confirm that the variables werecointegrated, with an F-statistic of 4.50 exceeding the upper bound at 5 percent significance. The long-run estimates reveal that inflation hada negative effect on poultry price volatility (−0.109), while the exchange rate exerteda positive effect (0.2702). The errorcorrection term (−0.336) indicates a 33.6 percent adjustment to equilibrium each period. In the short run, changes in inflation (0.942) and lagged exchange rate variations significantly influenced poultry price volatility. These findings underscore the importance of stabilizing exchange rates and controlling inflation to reduce price volatility in Nigeria’s poultry sector. Full article
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40 pages, 5686 KB  
Article
Digital–Intelligent Transformation and Urban Carbon Efficiency in the Yellow River Basin: A Hybrid Super-Efficiency DEA and Interpretable Machine-Learning Framework
by Jiayu Ru, Jiahui Li, Lu Gan and Gulinaer Yusufu
Land 2026, 15(1), 159; https://doi.org/10.3390/land15010159 - 13 Jan 2026
Viewed by 181
Abstract
The goal of this scientific study is to clarify whether and how digital–intelligent integration contributes to urban carbon efficiency and to identify the conditions under which this contribution becomes nonlinear and policy-relevant. Focusing on 39 prefecture-level cities in the middle reaches of the [...] Read more.
The goal of this scientific study is to clarify whether and how digital–intelligent integration contributes to urban carbon efficiency and to identify the conditions under which this contribution becomes nonlinear and policy-relevant. Focusing on 39 prefecture-level cities in the middle reaches of the Yellow River Basin during 2011–2022, we adopt an integrated measurement–modelling approach that combines efficiency evaluation, machine-learning interpretation, and dynamic–spatial validation. Specifically, we construct two super-efficiency DEA indicators: an undesirable-output SBM incorporating CO2 emissions and a conventional super-efficiency CCR index. We then estimate nonlinear city-level relationships using XGBoost and interpret the marginal effects with SHAP, while panel vector autoregression (PVAR) and spatial diagnostics are employed to validate the dynamic responses and spatial dependence. The results show that digital–intelligent integration is positively associated with both carbon-related and conventional efficiency, but its marginal contribution is strongly conditioned by human capital, urbanisation, and environmental regulation, exhibiting threshold-type behaviour and diminishing returns at higher digitalisation levels. Green efficiency reacts more strongly to short-run shocks, whereas conventional efficiency follows a steadier improvement trajectory. Heterogeneity across urban agglomerations and evidence of spatial clustering further suggest that uniform policy packages are unlikely to perform well. These findings highlight the importance of sequencing and policy complementarity: investments in digital infrastructure should be coordinated with institutional and structural measures such as green finance, environmental standards, and industrial upgrading and place-based pilots can help scale effective digital applications toward China’s dual-carbon objectives. The proposed framework is transferable to other regions where the digital–climate nexus is central to smart and sustainable urban development. Full article
(This article belongs to the Special Issue Innovative Strategies for Sustainable Smart Cities and Territories)
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21 pages, 1242 KB  
Article
Structural Conditions for Financial Literacy Diffusion in Morocco: An ARDL Approach
by Hamida Lahjouji and Mariam El Haddadi
Economies 2026, 14(1), 21; https://doi.org/10.3390/economies14010021 - 13 Jan 2026
Viewed by 140
Abstract
In a worldwide context marked by increasing attention to financial literacy as a factor of financial inclusion, Morocco take part of this dynamic, seeking to improve the financial skills of its population. This article does not measure financial literacy directly but aims to [...] Read more.
In a worldwide context marked by increasing attention to financial literacy as a factor of financial inclusion, Morocco take part of this dynamic, seeking to improve the financial skills of its population. This article does not measure financial literacy directly but aims to explore the structural conditions that enable its diffusion in Morocco, using macroeconomic indicators such as income, employability, and education, along with financial infrastructure. Adopting a mixed methodology, this study combines both qualitative and quantitative analysis of the national context, including an overview of public policies, socioeconomic characteristics, and financial literacy initiatives, with a quantitative analysis based on an Autoregressive Distributed Lag (ARDL) econometric model. Bank branch density is employed as an indirect proxy for financial infrastructure, reflecting access to formal financial services in the absence of time-series literacy data. The results show that gross national income (GNI) per capita, the labor forces, and elementary school enrolment rates influence banking density, though without producing statistically significant effects in the long term. In the short term, only GNI has a temporary but not very robust impact. These results highlight the limitations of macroeconomic indicators alone in explaining financial literacy diffusion and underscore the potential role of structural factors such as digital innovation, governance, or inclusion of youth and female indicators. Full article
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